In 2024, just 32 fossil fuel companies were responsible for half of the global carbon dioxide emissions contributing to the climate crisis. This is a slight improvement from 36 companies the previous year. Saudi Aramco topped the list of state-controlled polluters, while ExxonMobil led among privately owned firms.
Critics argue these companies are hindering climate action and not taking responsibility for their impact. However, the increasing emissions data is helping hold them accountable. The “Carbon Majors” report highlighted that 17 of the top 20 emitters are state-owned companies from nations that opposed a fossil fuel phaseout at the recent UN climate summit. Countries like Saudi Arabia, Russia, and China were on this list, while over 80 nations supported the phaseout.
Saudi Aramco emitted a staggering 1.7 billion tonnes of CO₂ from its oil exports. If it were a country, it would rank as the fifth largest polluter, right after Russia. ExxonMobil contributed 610 million tonnes, placing it ninth.
Despite a temporary dip in emissions during the COVID-19 pandemic, fossil fuel usage has surged back to record levels. Experts warn that emissions need to decrease by 45% by 2030 to align with the Paris Agreement’s target of limiting global warming to 1.5°C. Unfortunately, this goal is now viewed as increasingly unattainable. Limiting temperature rise is crucial, as even small increases can worsen climate impacts on communities.
Emmett Connaire from InfluenceMap, which produced the report, noted that emissions are increasingly concentrated among a few high-emission producers, even as global production continues to grow. Recent mergers in the oil sector, like ExxonMobil acquiring Pioneer Natural Resources, have further concentrated power.
Environmental advocates stress that the current situation calls for urgent action. Tzeporah Berman, a supporter of the Fossil Fuel Non-Proliferation Treaty Initiative, emphasized that powerful fossil fuel companies are blocking much-needed climate progress. The initiative aims for global cooperation to phase out fossil fuels and transition to renewable energy.
Christiana Figueres, former UN climate chief, pointed out that while renewable energy investments surge, fossil fuel companies cling to outdated practices. She believes the data can empower those pushing for accountable climate solutions.
The Carbon Majors database is a key resource for understanding the link between emissions and catastrophic climate events. Studies have shown that emissions from major fossil fuel companies have contributed to devastating heatwaves and attributed significant economic losses to their activities.
This information has also been crucial in legal battles, like the landmark case Lliuya v. RWE in Germany, which connected corporate emissions to climate impacts. More recently, climate laws in New York and Vermont hold fossil fuel companies responsible for funding protective measures against climate damage.
Rebecca Brown from the Center for International Environmental Law stressed that global courts are increasingly recognizing the connection between fossil fuel production and environmental harm. It’s clear that major polluters must reduce their emissions and take responsibility for their actions.
As for Saudi Aramco and ExxonMobil, both companies declined to comment on their roles or the report’s findings. The evidence is mounting, and the call for accountability grows louder.
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